Chapter 11

Chapter 11 : Retailing and Wholesaling
1.
________ includes all the activities involved in selling products or services directly to final consumers for their personal,
nonbusiness use.
A.
Franchising
B.
Retailing
C.
Brokering
D.
Wholesaling
E.
Disintermediation
B
Page Ref: 372
Skill: Concept
AACSB:
Objective: 11-1
2.
In recent years, ________ has(have) been growing fast. This includes selling to final consumers through direct mail,
catalogs, telephone, and the Internet.
A.
specialty stores
B.
shopping centers
C.
superstores
D.
nonstore retailing
E.
e-commerce
D
Page Ref: 373
Skill: Concept
AACSB: Use of IT
Objective: 11-1
3.
________ is the basis of all discount operations and is typically used by sellers of convenience goods. Retailers offering this
level of service require customers to perform their own "locate-compare-select" process in order to save money.
A.
Limited-service
B.
Self-service
C.
Full-service
D.
Specialty-service
E.
Wholesale
B
Page Ref: 373
Skill: Concept
AACSB:
Objective: 11-1
4.
________, such as Sears, provide more sales assistance because they carry more shopping goods about which customers
need information. Their increased operating costs result in higher prices.
A.
Self-service retailers
B.
Full-service retailers
C.
Off-price retailers
D.
Limited-service retailers
E.
Specialty-service retailers
D
Page Ref: 373
Skill: Concept
AACSB:
Objective: 11-1
5.
Which type of stores usually carry more specialty goods for which customers like to be "waited on" and have much higher
operating costs, which are passed along to the customer?
A.
self-service stores
B.
category killer stores
C.
full-service stores
D.
independent stores
E.
off-price stores
C
Page Ref: 374
Skill: Concept
AACSB:
Objective: 11-1
6.
Which of the following retailers likely put the most emphasis on salespeople assisting customers?
A.
limited-service retailers
B.
full-service retailers
C.
self-service retailers
D.
megaretailers
E.
off-price retailers
B
Page Ref: 374
Skill: Concept
AACSB:
Objective: 11-1
7.
________ are flourishing due to increased use of market segmentation and market targeting.
A.
Chain stores
B.
Specialty stores
C.
Superstores
D.
Discount stores
E.
Off-price stores
B
Page Ref: 374
Skill: Concept
AACSB:
Objective: 11-1
8.
Specialty stores carry ________ with ________ within them.
A.
convenience items; mostly staples
B.
narrow product lines; deep assortments
C.
narrow product lines; shallow assortments
D.
wide product lines; shallow assortments
E.
wide product lines; deep assortments
B
Page Ref: 374
Skill: Concept
AACSB:
Objective: 11-1
9.
Which type of store carries a wide variety of product lines and differentiates itself through service, but has been squeezed
in recent years between more focused and flexible specialty stores on the one hand and more efficient, lower-priced
discounters on the other?
A.
chain
B.
department
C.
factory outlet
D.
merchant wholesaler
E.
independents
B
Page Ref: 374-375
Skill: Concept
AACSB:
Objective: 11-1
10.
________ are facing slow sales growth because of slower population growth, increased competition, and the rapid growth
of out-of-home eating.
A.
Convenience stores
B.
Department stores
C.
Chain stores
D.
Supermarkets
E.
Hypermarkets
D
Page Ref: 375
Skill: Concept
AACSB:
Objective: 11-1
11.
Which type of retailer tends to be the most frequently shopped?
A.
department stores
B.
convenience stores
C.
supermarkets
D.
superstores
E.
off-price retailers
C
Page Ref: 375
Skill: Concept
AACSB:
Objective: 11-1
12.
Which type of small store carries a limited line of high-turnover convenience goods and makes most of its revenues from
cigarette, beverage, and gasoline sales?
A.
convenience
B.
department
C.
chain
D.
supermarket
E.
hypermarket
A
Page Ref: 375
Skill: Concept
AACSB:
Objective: 11-1
13.
Which type of store is much larger than regular supermarkets and offers a large assortment of routinely purchased food
products, nonfood items, and services?
A.
category killer
chain
B.
C.
factory outlet
D.
superstore
E.
off-price
D
Page Ref: 376
Skill: Concept
AACSB:
Objective: 11-1
14.
Which type of store carries a deep assortment, has knowledgeable staff, and might actually be viewed as a giant specialty
store?
A.
category killer
B.
chain
C.
factory outlet
D.
shopping center
E.
independent
A
Page Ref: 376
Skill: Concept
AACSB:
Objective: 11-1
15.
Service retailers include all of the following EXCEPT ________.
A.
hotels and motels
B.
airlines
C.
movie theaters
D.
bowling alleys
E.
convenience stores
E
Page Ref: 376
Skill: Concept
AACSB:
Objective: 11-1
16.
________ retailers in the United States are growing faster than product retailers.
A.
Discount
B.
Merchant
C.
Service
D.
Specialty
E.
Off-price
C
Page Ref: 376
Skill: Concept
AACSB:
Objective: 11-1
17.
________ sell standard merchandise at lower prices by accepting lower margins and selling higher volume.
A.
Merchant wholesalers
B.
Discount stores
C.
D.
E.
Factory outlets
B
Page Ref: 376
Skill: Concept
AACSB:
Objective: 11-1
18.
Early ________ cut expenses by offering few services and operating in warehouse-like facilities in low-rent, heavily
traveled districts.
A.
chain stores
B.
department stores
C.
discount stores
D.
shopping centers
E.
full-service retailers
C
Page Ref: 376
Skill: Concept
AACSB:
Objective: 11-1
19.
________ have filled the ultralow-priced, high-volume gap by buying at less than regular wholesale prices and charging
consumers less than retail.
A.
Off-price retailers
B.
Discount stores
C.
Convenience stores
D.
Chain store
E.
A
Page Ref: 378
Skill: Concept
AACSB:
Objective: 11-1
20.
Which of the following is NOT one of the main types of off-price retailers?
A.
independents
B.
factory outlets
C.
warehouse clubs
D.
category killers
E.
membership warehouses
D
Page Ref: 378-379

Skill: Concept
AACSB:
Objective: 11-1
21.
________, which buy at less than regular wholesale prices and charge consumers less than retail, are owned and run by
entrepreneurs or are divisions of larger retail corporations.
A.
Discount stores
B.
Warehouse clubs
C.
Superstores
D.
Independent off-price retailers
E.
D
Page Ref: 378
Skill: Concept
AACSB:
Objective: 11-1
22.
________ are sometimes several stores grouped together. These stores offer prices as low as 50 percent below retail on a
wide range of mostly surplus, discounted, or irregular items.
A.
Category killers
B.
Factory outlets
C.
Specialty stores
D.
Superstores
E.
Power centers
B
Page Ref: 378
Skill: Concept
AACSB:
Objective: 11-1
23.
________ operate in warehouse-like facilities, sell a limited selection of items, and offer few frills. Customers pay annual
membership fees and are able to purchase goods at deep discounts.
A.
Warehouse clubs
B.
C.
Factory outlets
D.
Discount stores
E.
Superstores
A
Page Ref: 379
Skill: Concept
AACSB:
Objective: 11-1
24.
________ are two or more outlets that are commonly owned and controlled.
A.
Chain stores
B.
Convenience stores
C.
Off-price retailers
D.
E.
Power centers
A
Page Ref: 379
Skill: Concept
AACSB:
Objective: 11-1
25.
As a result of the great success of corporate chains, many independent stores chose to band together in one of two forms
of contractual associations: a voluntary chain or a(n) ________.
A.
factory outlet
B.
retailer cooperative
C.
independent off-price retailer
D.
warehouse club
E.
convenience cooperative
A
B
Page Ref: 380
Skill: Concept
AACSB:
Objective: 11-1
26.
The main difference between ________ organizations and other contractual systems is that these systems are normally
based on some unique product or service.
A.
voluntary chain
B.
C.
franchise
D.
independent
E.
warehouse-club
C
Page Ref: 380
Skill: Concept
AACSB:
Objective: 11-1
27.
Retail assortments are looking more and more alike because ________.
A.
customers today are more focused on service differentiation
B.
national-brand manufacturers have placed their products almost everywhere
C.
market segmentation has proven ineffective
D.
stores are clustered together to increase their customer pulling power
E.
more stores are practicing "experiential retailing"
B
Page Ref: 380
Skill: Concept
AACSB:
Objective: 11-2
28.
Service differentiation among retailers has ________.

A.
increased
B.
decreased
C.
stayed the same
D.
been eliminated
E.
become unnecessary
B
Page Ref: 381
Skill: Concept
AACSB:
Objective: 11-2
29.
Until retailers ________ and ________ their markets, they cannot make consistent decisions about product assortment,
services, pricing, advertising, store dcor, or any of the other decisions that must support their positions.
A.
compete with; position
B.
target; compete with
C.
define; profile
D.
limit; serve
E.
divest; eliminate
C
Page Ref: 381
Skill: Concept
AACSB:
Objective: 11-2
30.
A retailer may fail because it tries to provide "something for everyone" and ends up satisfying no market well. Successful
retailers ________ their target markets well and position themselves strongly.
A.
increase
B.
franchise
C.
wholesale
D.
define
position
E.
D
Page Ref: 381
Skill: Concept
AACSB:
Objective: 11-2
31.
A retailer's ________ should differentiate the retailer while matching target shoppers' expectations. One strategy is to offer
merchandise that no other competitor carries.
A.
agent
B.
broker
C.
product assortment
D.
environment
E.
distribution strategy
C
Page Ref: 382
Skill: Concept
AACSB:
Objective: 11-2
32.
Costco's surprise offerings of seconds, overstocks, and closeoutsoccasionally including diamondsis an example of how a
retailer can differentiate itself through ________.
A.
product assortment
B.
services mix
C.
experiential retailing
D.
store atmosphere
E.
high-low pricing
A
Page Ref: 382
Skill: Concept
AACSB:
Objective: 11-2
33.
A retailer that uses ________ creates realistic environments that encourage customers to try products before they buy
them.
A.
product positioning
B.
C.
atmosphere control
D.
store differentiation and positioning
E.
hypermarketing
B
Page Ref: 382
Skill: Concept
AACSB:
Objective: 11-2
34.
While all retailers would like to achieve ________ while charging ________, the two seldom happen together.
A.
low volume; high markups
B.
low volume; low markups
C.
high volume; high markups
D.
high volume; low markups
E.
high volume; cut-rate markups
C
Page Ref: 385
Skill: Concept
AACSB:
Objective: 11-2
35.
In-store demonstrations, displays, contests, and visiting celebrities are all examples of ________.
A.
direct marketing
B.
sales promotions
C.
agent promotions
D.
advertising
E.
public relations
B
Page Ref: 385
Skill: Concept
AACSB: Communication
Objective: 11-2
36.
Press conferences and speeches, store openings, special events, newsletters, magazines, and public service activities are
examples of ways retailers use ________.
A.
public relations
B.
sales promotions
C.
personal selling
D.
the wheel-of-retailing concept
E.
retail convergence
A
Page Ref: 385
Skill: Concept
Objective: 11-2
37.
Of the following, what would most retailers consider to be the most important factor in retailing success?
A.
fair prices
B.
good atmosphere
C.
helpful employees
D.
location
E.
efficient distribution
D
Page Ref: 386
Skill: Concept
AACSB:
Objective: 11-2
38.
Why do stores cluster together?
A.
to decrease competition
B.
to increase their customer pulling power
C.
to take advantage of tax breaks
D.
to create retailer cooperatives
E.
to standardize the service mix
B
Page Ref: 386
Skill: Concept
AACSB:
Objective: 11-2
39.
________ were the main form of retail cluster until the 1950s.
A.
Department stores
B.
Discount stores
C.
D.
Central business districts
E.
Independent stores
D
Page Ref: 386
Skill: Concept
AACSB:
Objective: 11-2
40.
A ________ is a group of retail businesses planned, developed, owned, and managed as a unit.
A.
merchant wholesaler
B.
franchise
C.
shopping center
D.
supermarket
E.
hypermarket
C
Page Ref: 386
Skill: Concept
AACSB:
Objective: 11-2
41.
A ________ contains from 50 to over 100 stores, is like a covered mini-downtown, and attracts customers from a wide area.
A.
community shopping center
B.
neighborhood shopping center
C.
strip mall
D.
regional shopping center
E.
power center
D
Page Ref: 386
Skill: Concept
AACSB:
Objective: 11-2
42.
A ________ contains between 15 and 50 retail stores, including a department or variety store, a supermarket, specialty
stores, professional offices, and sometimes a bank.
A.
community shopping enter
B.
neighborhood shopping center
C.
strip mall
D.
E.
power center
A
Page Ref: 386

Skill: Concept
AACSB:
Objective: 11-2
43.
Most shopping centers are ________ containing between 5 and 15 stores; they are close and convenient for consumers.
A.
community shopping centers
B.
power centers
C.
strip malls
D.
regional shopping centers
E.
factory outlets
C
Page Ref: 386
Skill: Concept
AACSB:
Objective: 11-2
44.
Today's trend in retail clusters is toward ________, huge unenclosed shopping centers consisting of a long strip of retail
stores, including at least one large, freestanding anchor store such as Wal-Mart. Each store has its own entrance with
parking directly in front for shoppers who wish to visit only one store.
A.
shopping malls
B.
power centers
C.
superstores
D.
chain stores
E.
regional shopping centers
B
Page Ref: 386
Skill: Concept
AACSB:
Objective: 11-2
45.
A ________ is a smaller mall with upscale stores, convenient locations, and nonretail activities such as a playground,
dining, and a movie theater. It is typically located near affluent residential neighborhoods.
A.
B.
lifestyle center
C.
community shopping center
D.
franchise
E.
power center
B
Page Ref: 386-387
Skill: Concept
AACSB:
Objective: 11-2
46.
According to the ________ concept, new retailing forms often begin as low-margin, low-price, low-status operations to
challenge established retailers, then become successful, and eventually take the place of the established retailers they had
challenged.
A.
agent
B.
broker
C.
wheel-of-retailing
D.
warehousing
E.
product life cycle
C
Page Ref: 387
Skill: Concept
AACSB:
Objective: 11-3
47.
In response to a(n) ________, many retailers have cut costs, used price promotions, and added new value pitches to their
positioning.
A.
down economy
B.
up economy
C.
dot-com meltdown
D.
dot-com boom
E.
shift in retail technology
A
Page Ref: 388
Skill: Concept
AACSB:
Objective: 11-3
48.
Mail-order, television, phone, and online shopping are all examples of ________.
A.
the wheel-of-retailing concept
B.
nonstore retailing
C.
off-price retailing
D.
full-service retailing
E.
megaretailing
B
Page Ref: 388
Skill: Concept
AACSB:
Objective: 11-3
49.
All of the following have contributed to the growth of online business EXCEPT which one?
A.
easier-to-use Web sites
B.
more interesting and attractive Web sites
C.
concerns about online privacy and security
D.
improved online service
E.
increasingly sophisticated search engines
C
Page Ref: 388
Skill: Concept
AACSB: Use of IT
Objective: 11-3
50.
More growth in online retailing is expected from ________ retailers than other retail types.
A.
click-and-brick
B.
single channel
C.
brick-and-mortar
D.
independent
E.
franchised
A
Page Ref: 391
Skill: Application
AACSB: Use of IT
Objective: 11-3
51.
The merging of consumers, products, prices, and retailers is called ________.
A.
retail conglomeration
B.
consumer convergence
C.
price merging
D.
retail convergence
E.
retail clustering
D
Page Ref: 390
Skill: Concept
AACSB:
Objective: 11-3
52.
Retail convergence means greater ________ for retailers and greater difficulty in ________ offerings.
A.
differentiating; pricing
B.
sales; differentiating
C.
profit margins; sales
D.
competition; differentiating
E.
independence; differentiating
D
Page Ref: 390
Skill: Concept
AACSB:
Objective: 11-3
53.
The rise of huge mass merchandisers and specialty superstores, along with retail mergers and acquisitions, has created a
core group of very large and very powerful ________.
A.
category killers
B.
franchises
C.
megaretailers
D.
neighborhood shopping centers
E.
lifestyle centers
C
Page Ref: 390
Skill: Concept
AACSB:
Objective: 11-3
54.
Touch-screen kiosks, customer-loyalty cards, handheld shopping assistants, and self-scanning checkout systems are all
examples of how retailers use technology to ________.
A.
maintain inventory costs
B.
send information between stores
C.
interact with suppliers
D.
decrease the need for promotions
E.
meet consumers' technological expectations
E
Page Ref: 390
Skill: Concept
AACSB: Use of IT
Objective: 11-3
55.
Most ________ retailers are significantly behind ________ retailers in global expansion.
A.
African; Peruvian
B.
European; American
C.
American; European and Asian
D.
Asian; American
E.
Asian; African
C
Page Ref: 391
Skill: Concept
AACSB: Multicultural and Diversity
Objective: 11-3
56.
________, the world's second largest retailer after Wal-Mart, has embarked on an aggressive mission to extend its role as a
leading international retailer.
A.
McDonald's
B.
Target
C.
Carrefour
D.
Ikea
E.
Costco
C
Page Ref: 391
Skill: Concept
AACSB: Multicultural and Diversity
Objective: 11-3
57.
________ includes all activities involved in selling goods and services to those buying for resale or business use.
A.
Wholesaling
Retailing
Franchising
Discounting
B.
C.
D.
E.
Disintermediation
A
Page Ref: 392
Skill: Concept
AACSB:
Objective: 11-4
58.
________ buy mostly from producers and sell to retailers and industrial consumers.
A.
Independents
B.
Factory outlets
C.
Wholesalers
D.
Discount stores
E.
Megaretailers
C
Page Ref: 392
Skill: Concept
AACSB:
Objective: 11-4
59.
Which wholesaler's channel function is demonstrated when a wholesaler's sales force helps a manufacturer reach many
small customers at a low cost?
A.
bulk-breaking
B.
selling and promoting
C.
buying and assortment building
D.
warehousing
E.
rackjobbing
B
Page Ref: 393
Skill: Concept
AACSB:
Objective: 11-4
60.
Which of the following is NOT one of a wholesaler's channel functions?
A.
financing
B.
risk bearing
C.
providing market information
D.
off-price retailing
E.
bulk-breaking
D
Page Ref: 393
Skill: Concept
AACSB:
Objective: 11-4
61.
Which wholesaler's channel function is demonstrated when a wholesaler reduces inventory holding costs and risks to
suppliers and customers?
A.
bulk-breaking
B.
C.
warehousing
D.
financing
E.
transporting
C
Page Ref: 393
Skill: Concept
AACSB:
Objective: 11-4
62.
Which wholesaler's channel function is demonstrated when a buyer receives quicker delivery because wholesalers are
located closer than producers?
A.
B.
financing
C.
transportation
D.
risk bearing
E.
warehousing
C
Page Ref: 393
Skill: Concept
AACSB:
Objective: 11-4
63.
Which of the following is NOT one of the major classifications of wholesalers?
A.
merchant wholesalers
B.
agents
C.
manufacturers' sales branches and offices
D.
specialty wholesalers
E.
brokers
D
Page Ref: 393
Skill: Concept
AACSB:
Objective: 11-4
64.
________ are the largest group of wholesalers. The group can be divided into the two broad types of full-service and
limited-service.
A.
Brokers
B.
Manufacturer sellers
C.
Agents
D.
Merchant wholesalers
E.
Specialty wholesalers
D
Page Ref: 393
Skill: Concept
AACSB:
Objective: 11-4
65.
________ and ________ do not take title to goods, and they perform only a few channel functions.
A.
Full-service wholesalers; limited-service wholesalers
B.
Brokers; agents
C.
Branches; office
D.
Power centers; independent wholesalers
E.
Independent wholesalers; off-price retailers
B
Page Ref: 393
Skill: Concept
AACSB:
Objective: 11-4
66.
A(n) ________ brings buyers and sellers together and assists in negotiations.
A.
agent
B.
broker
C.
retailer
D.
wholesaler
E.
retail convergence
B
Page Ref: 393
Skill: Concept
Objective: 11-4
67.
________ represent a buyer or seller on a more permanent basis.
A.
Brokers
B.
Franchises
C.
Agents
D.
Retailers
E.
Intermediaries
C
Page Ref: 393
Skill: Concept
Objective: 11-4
68.
Like retailers, wholesalers must ________ their target markets and ________ themselves effectively, for they cannot serve
everyone.
A.
define; position
B.
position; define
C.
discount; franchise
D.
franchise; discount
E.
identify; compare
A
Page Ref: 394
Skill: Concept
AACSB:
Objective: 11-4
69.
Which type of limited-service wholesaler is owned by farmers who assemble farm products to sell in local markets?
A.
cash-and-carry wholesaler
B.
drop shipper
C.
rack jobber
D.
producer's cooperative
E.
truck jobber
D
Page Ref: 394
Skill: Concept
AACSB:
Objective: 11-4
70.
Which type of wholesaler sells primarily to manufacturers rather than to retailers?
A.
wholesale merchants
B.
industrial distributors
C.
cash-and-carry wholesalers
D.
rack jobbers
E.
drop shippers
B
Page Ref: 394
Skill: Concept
AACSB:
Objective: 11-4
71.
In order to ________, wholesalers can propose automatic reordering systems, set up management-training and advising
systems, or even sponsor a voluntary chain.
A.
define their target markets
B.
identify more profitable customers
C.
determine product and service assortments
D.
build better relationships with customers
E.
settle on pricing
D
Page Ref: 395
Skill: Concept
AACSB:
Objective: 11-4
72.
Many wholesalers are not ________-minded; they are behind the times in personal selling, seeing selling as a single
salesperson talking to a single customer instead of as a team effort.
A.
customer
B.
promotion
C.
management
D.
franchise
E.
profit
B
Page Ref: 396
Skill: Concept
Objective: 11-4
73.
Today's large, progressive wholesalers have successfully reacted to rising costs by ________.
A.
relocating in low-rent, low-tax areas
B.
investing in information technology systems
C.
investing less money in expensive machinery
D.
increasing their markup
E.
reducing promotional activities
B
Page Ref: 396
Skill: Concept
AACSB: Use of IT
Objective: 11-4
74.
Savvy wholesalers realize that their only reason for existence comes from increasing the efficiency and effectiveness of the
________.
A.
retailer
B.
industry
C.
distribution system
D.
end customer
E.
entire marketing channel
E
Page Ref: 397
Skill: Concept
AACSB:
Objective: 11-4
75.
In response to slow growth in their domestic markets, many wholesalers are ________.
A.
contracting their international business
B.
increasing their international business
C.
divesting themselves of costly technologies
D.
lengthening the marketing channel
E.
reducing elaborate promotional efforts
B
Page Ref: 398
Skill: Concept
AACSB:
Objective: 11-4
76.
Wholesaling includes all the activities involved in selling products or services directly to final consumers for their
personal, nonbusiness use.
Answer:
True
False
Page Ref: 372
Skill: Concept
AACSB:
Objective: 11-1
77.
Retailers can be classified in terms of several characteristics, including the amount of service they offer, the breadth and
depth of their product lines, the relative prices they charge, and how they are organized.
True
False
Page Ref: 373
Skill: Concept
AACSB:
Objective: 11-1
78.
Full-service retailers, such as Sears or JC Penney, provide more sales assistance because they carry more shopping goods
about which customers need information.
Answer:
True
False
Page Ref: 373
Skill: Application
AACSB: Reflective Thinking
Objective: 11-1
79.
Limited-service retailers, such as specialty stores and first-class department stores, employ salespeople who assist
customers in every phase of the shopping process.
Answer:
True
False
Page Ref: 373
Skill: Concept
AACSB:
Objective: 11-1
80.
Department stores carry narrow product lines with deep assortments within those lines.
Answer:
True
False
Page Ref: 374
Skill: Concept
AACSB:
Objective: 11-1
81.
For department stores that have been squeezed between more focused and flexible specialty stores on the one hand, and
more efficient, lower-priced discounters on the other, service remains the key differentiating factor.
True
False
Page Ref: 375
Skill: Concept
AACSB:
Objective: 11-1
82.
In recent years, convenience stores have redesigned their stores to closely focus on serving their primary target market
made up of young, blue-collar men.
Answer:
True
False
Page Ref: 375
Skill: Concept
AACSB:
Objective: 11-1
83.
Category killers carry a deep assortment of a particular product line and have a knowledgeable staff.
True
False
Page Ref: 376

Skill: Concept
AACSB:
Objective: 11-1
84.
Off-price retailers pay regular wholesale prices for their merchandise but maintain low prices by accepting lower margins
and selling higher volume.
Answer:
True
False
Page Ref: 378
Skill: Concept
AACSB:
Objective: 11-1
85.
A discount store buys at less than regular wholesale prices and charges consumers less than retail.
Answer:
True
False
Page Ref: 378
Skill: Concept
AACSB:
Objective: 11-1
86.
Independent off-price retailers may, in fact, be divisions of larger retail corporations.
True
False
Page Ref: 378
Skill: Concept
AACSB:
Objective: 11-1
87.
Factory outlets, independent off-price retailers, and warehouse clubs all buy their merchandise in a similar fashion.
True
False
Page Ref: 378
Skill: Application
AACSB: Analytic Skills
Objective: 11-1
88.
In warehouse clubs, customers must independently bring large items to the checkout line.
True
False
Page Ref: 379
Skill: Concept
AACSB:
Objective: 11-1
89.
Chain stores are located near a residential area and are open long hours, seven days a week; they carry a limited line of
high-turnover goods.
Answer:
True
False
Page Ref: 379
Skill: Concept
AACSB:
Objective: 11-1
90.
In a retailer cooperative, independent retailers contract with each other to set up a central buying operation and conduct
joint promotional efforts.
True
False
Page Ref: 380
Skill: Concept
AACSB:
Objective: 11-1
91.
Retailers first must segment and define their target markets and then decide how they will position themselves in these
markets.
True
False
Page Ref: 381
Skill: Concept
AACSB:
Objective: 11-2
92.
A store's atmosphere is categorized as one of the three major place variables on which retailers must decide.
Answer:
True
False
Page Ref: 382
Skill: Concept
AACSB:
Objective: 11-2
93.
To create the right atmosphere, some retailers control every aspect of the consumer's store experience, including what
customers hear and smell.
True
False
Page Ref: 384
Skill: Concept
AACSB:
Objective: 11-2
94.
In the past few years, power centers have decreased in number.
Answer:
True
False
Page Ref: 386
Skill: Concept
AACSB:
Objective: 11-2
95.
The wheel-of-retailing concept deals mainly with wholesalers rolling out reduced service levels.
Answer:
True
False
Page Ref: 387
Skill: Concept
AACSB:
Objective: 11-3
96.
The life cycle of new retail forms is getting longer.
Answer:
True
False
Page Ref: 387
Skill: Concept
AACSB:
Objective: 11-3
97.
Some retailers benefit from a down economy.
True
False
Page Ref: 387
Skill: Concept
AACSB:
Objective: 11-3
98.
Unlike mass marketers, niche marketers expect to see continued growth in their online sales.
Answer:
True
False
Page Ref: 391
Skill: Concept
AACSB: Use of IT
Objective: 11-3
99.
Retail convergence means greater competition for retailers and greater difficulty in differentiating offerings.
True
False
Page Ref: 390
Skill: Concept
AACSB:
Objective: 11-3
100.
The number of retailers creating communities for their customers is declining.
Answer:
True
False
Page Ref: 391

Skill: Concept
AACSB:
Objective: 11-3
101.
Because wholesalers buy mostly from producers and sell mostly to retailers, many of the largest and most important
wholesalers are unknown to most final consumers.
True
False
Page Ref: 392
Skill: Concept
AACSB:
Objective: 11-4
102.
A broker brings buyers and sellers together and assists in negotiation.
True
False
Page Ref: 393
Skill: Concept
AACSB:
Objective: 11-4
103.
Like retailers, a wholesaler must decide on segmentation and targeting, differentiation and positioning, and the marketing
mix.
True
False
Page Ref: 394-395
Skill: Concept
Objective: 11-4
104.
In an automated warehouse, orders are fed directly from the retailer's information system to the wholesaler's, and the
items are picked up by mechanical devices and taken to a shipping platform where they are assembled.
True
False
Page Ref: 396
Skill: Concept
AACSB: Use of IT
Objective: 11-4
105.
The distinction between large retailers and large wholesalers is becoming blurred.
True
False
Page Ref: 397
Skill: Concept
AACSB:
Objective: 11-4
106.
Retail stores can be classified in terms of several characteristics. Name four of these.
These include the amount of service they offer, the breadth and depth of their product lines, the relative prices they
charge, and how they are organized.
Page Ref: 373
Skill: Application
Objective: 11-1
107.
Compare and contrast specialty stores and convenience stores.
Specialty stores carry narrow product lines with deep assortments within those lines. Convenience stores are small stores
that carry a limited line of high-turnover convenience goods. The majority of their revenues come from sales of gasoline,
cigarettes, and beverages.
Page Ref: 374-375
Skill: Application
Objective: 11-1
108.
Describe the differences between discount stores and off-price retailers.
A discount store buys at regular wholesale prices but sells standard merchandise at lower prices by accepting lower
margins and selling higher volume. Off-price retailers buy at less-than-regular wholesale prices and charge consumers
less than retail.
Page Ref: 376-378
Skill: Application
Objective: 11-1
109.
Describe the differences between chain stores and franchises.
Chain stores consist of two or more outlets that are commonly owned and controlled. Chain stores have the advantage of
buying in larger quantities at lower prices and sharing resources to hire specialists to help with decisions in pricing,
promotion, merchandising, inventory, and sales forecasting. Franchises are not commonly owned and controlled; instead,
a franchise is a contractual association between a manufacturer, wholesaler, or service organization and an independent
businessperson who buys the right to own and operate one or more units within the franchise system.
Page Ref: 379-380
Skill: Application
Objective: 11-1
110.
Explain how Whole Foods is able to compete against Wal-Mart.
Wal-Mart owns the low-price position, so other grocery chains such as Whole Foods must position themselves differently.
Rather than try to compete directly with Wal-Mart, Whole Foods is positioned away from Wal-Mart. It targets a smaller
group of upscale customers and offers them organic, gourmet foods in a cheerful, aesthetically pleasing environment.
Page Ref: 382-383
Skill: Application
Objective: 11-2
111.
Three types of shopping centers are regional shopping centers, community shopping centers, and neighborhood shopping
centers/strip malls. Describe how they are different from each other.
Regional shopping centers are the largest and most dramatic shopping centers. They contain from 50 to more than 100
stores. They are like covered mini-downtowns and attract customers from a wide area. Smaller than regional shopping
centers, community shopping centers contain between 15 and 50 stores. They normally contain a branch of a department
store or variety store, a supermarket, specialty stores, professional offices, and sometimes a bank. Smaller still are
neighborhood shopping centers/strip malls, which generally contain 5 to 15 stores. They are close and convenient for
consumers, usually containing a supermarket, a discount store, and several service stores.
Page Ref: 386
Skill: Application
Objective: 11-2
112.
Describe how nonstore retailing has grown in the past decade.
Though most purchases are still made in stores, more and more consumers are now shopping using a broad range of
nonstore alternatives, including mail-order, television, phone, and online shopping. Easy-to-use Web sites, improved
online service, and sophisticated search engines have all helped online business grow at a faster rate than retail buying.
All types of retailers now use direct and online channels, with traditional brick-and-mortar retailers selling online, along
with online-only retailers such as Amazon.com and eBay. Much of the growth in online sales will go to multichannel
retailers who provide service both in stores and online.
Page Ref: 388
Skill: Application
AACSB: Use of IT
Objective: 11-3
113.
Explain how wholesalers add value for a producer.
Wholesalers add value by performing one or more of the following channel functions: selling and promotion, buying and
assortment building, bulk breaking, warehousing, transportation, financing, risk bearing, providing market information,
and giving management services and advice. Wholesalers can perform many channel functions more efficiently and
effectively than a producer can, allowing the producer to focus its energies on creating its product.
Page Ref: 393
Skill: Application
Objective: 11-4
114.
Explain the marketing decisions facing wholesalers.
Wholesalers are faced with the marketing decisions of segmentation and targeting, differentiation and promotion, and the
marketing mix. Progressive wholesalers are adapting their services to the needs of target customers and are seeking costreducing methods of doing business. Faced with slow growth in their domestic markets and developments such as the
North American Free Trade Association, many large wholesalers are also now going global.
Page Ref: 394-398
Skill: Application
Objective: 11-4
115.
Explain how wholesalers have been able to use technology to cut costs.
Many wholesalers have invested in automated warehouses and information technology systems. Delivery time can be cut
as orders are fed from the retailer's information system directly into the wholesaler's. Automated warehouses increase
efficiencies and drive down costs, as mechanical devices can automatically pick up items and take them to a shipping
platform to be assembled. Wholesalers can also use technology for accounting, billing, inventory control, and forecasting.
These computerized, automated, and Web-based systems help wholesalers contain the costs of ordering, shipping, and
inventory holding.
Page Ref: 396
Skill: Application
AACSB: Use of IT
Objective: 11-4
116.
At Neiman Marcus, a first-class department store, customers shop for specialty products and have come to expect
assistance in every phase of the shopping process. Neiman Marcus is a ________.
A.
self-service retailer
B.
limited-service retailer
C.
full-service retailer
D.
specialty store
E.
power center
C
Page Ref: 373
Skill: Application
Objective: 11-1
117.
GameStop sells video games and systems, offering a narrow product line with a deep assortment within that line.
GameStop is a(n)________.
A.
department store
B.
convenience store
C.
specialty store
D.
category killer
E.
off-price retailer
C
Page Ref: 374
Skill: Application
Objective: 11-1
118.
7-Eleven, Stop-N-Go, and Circle K, small stores that traditionally have had a primary market of young, blue-collar men,
are examples of ________.
A.
specialty stores
B.
department stores
C.
convenience stores
D.
supermarkets
E.
category killers
C
Page Ref: 375
Skill: Application
Objective: 11-1
119.
Overstock.com, a Web seller that buys furniture, clothing, electronics, and more from a variety of producers at less-thanregular wholesale prices and then charges customers less than retail, is a(n) ________.
A.
discount store
B.
independent off-price retailer
C.
factory outlet
D.
wholesale club
E.
category killer
B
Page Ref: 378
Skill: Application
Objective: 11-1
120.
A growing number of outlet malls now feature upscale brands such as Coach, Polo Ralph Lauren, Dolce & Gabbana, and
Giorgio Armani. Which of the following are most likely to protest about this trend to the manufacturers of these brands?
A.
membership warehouses
B.
agents
C.
brokers
D.
department stores
E.
factory outlets
D
Page Ref: 378
Skill: Application
Objective: 11-1
121.
McDonald's, Subway, and Pizza Hut are all examples of a ________.
A.
voluntary chain
B.
C.
franchise
D.
full-service retailer
E.
power center
C
Page Ref: 380
Skill: Application
Objective: 11-1
122.
In the battle for "share of stomachs," some supermarkets are cutting costs and attempting to compete more effectively with
food discounters, while others are moving upscale, providing improved store environments and higher-quality food
offerings. These two different strategies represent differences in ________.
A.
positioning
B.
place decisions
C.
retail convergence
D.
retail technology
E.
wholesaling
A
Page Ref: 381
Skill: Application
Objective: 11-2
123.
7-Eleven has recently begun to redesign and restock its stores to offer a more upscale environment and products, such as
house wines and fresh foods. 7-Eleven has changed its ________.
A.
wholesaler
B.
positioning
C.
place decision
D.
size
E.
relative prices
B
Page Ref: 381
Skill: Application
Objective: 11-2
124.
Big and Tall Men's Shop carries goods in larger sizes; this allows the store to ________ other stores.
A.
cluster with
B.
differentiate itself from
C.
franchise with
D.
affect the store atmosphere of
E.
converge with
B
Page Ref: 382
Skill: Application
Objective: 11-2
125.
Home Depot offers "how-to" classes for do-it-yourselfers, featuring instructions on how to complete home improvement
projects using products sold at its stores. This is an example of how Home Depot has differentiated itself through its
________.
A.
atmosphere
B.
segmentation
C.
targeting
D.
services mix
E.
product assortment
D
Page Ref: 382
Skill: Application
Objective: 11-2
126.
Which of the following types of retailers is most likely to practice everyday low pricing (EDLP)?
A.
discount stores
B.
convenience stores
C.
category killers
D.
limited-service retailers
E.
department stores
A
Page Ref: 387
Skill: Application
Objective: 11-2
127.
Which of the following describes a way that Costco and Wal-Mart are similar?
A.
Both are warehouse clubs.
B.
Both target the same affluent market.
C.
Both offer a similar assortment of products.
D.
Both use everyday low pricing.
E.
Both market a very limited number of generic-priced food, household, and apparel lines.
D
Page Ref: 385
Skill: Application
Objective: 11-2
128.
Macy's department stores carry a wide range of product lines, including clothing, jewelry, kitchenware, and home
furnishings. Macy's typically charges a relatively high markup, but also holds frequent sales and price promotions, in
particular, offering discounts to customers who use a Macy's credit card. Macy's uses ________.
A.
self-service retailing
B.
C.
high-low pricing
D.
everyday low pricing
E.
retail convergence
C
Page Ref: 385
Skill: Application
Objective: 11-2
129.
Which of the following is most likely to be true about shoppers who prefer to shop at lifestyle centers?
A.
They prefer inexpensive atmospheres.
B.
They prefer upscale stores.
C.
They prefer out-of-the-way locations.
D.
They rarely dine out.
E.
They are motivated by deals on last year's merchandise and seconds.
A
B
Page Ref: 387
Skill: Application
Objective: 11-2
130.
Which of the following is most likely the greatest factor in the increasingly short life cycle of new retail forms?
A.
changes in technology
B.
economic swings
C.
import and export regulations
D.
stagnating retail convergence
E.
global expansion of major retailers
A
Page Ref: 390
Skill: Application
Objective: 11-3
131.
Carey David's wholesale company fulfills many channel functions for its customers. In particular, the company
differentiates itself by offering ________, such as helping retailers train salesclerks, improve store layouts and displays, and
set up inventory control systems.
A.
B.
selling and promotion services
C.
risk bearing services
D.
marketing information
E.
management services and advice
E
Page Ref: 369
Skill:
Objective: 11-4
132.
Carey David's wholesale company helps retailers train salesclerks, improve store layouts and displays, and set up
inventory control systems. The channel function Cary David's is providing is ________.
A.
B.
selling and promotion services
C.
risk bearing services
D.
marketing information
E.
management services and advice
E
Page Ref: 393
Skill: Application
Objective: 11-4
133.
You own an independent store in your neighborhood. You still like to offer fresh seafood in your meat display case. Which
type of wholesaler might best serve you?
A.
B.
rack jobber
C.
drop shipper
D.
mail-order wholesaler
E.
agents and brokers
A
Page Ref: 394
Skill: Application
Objective: 11-4
134.
You own a neighborhood grocery store and would like to have non-food items delivered, priced, displayed and
inventoried by a wholesaler. You do not want to purchase title to the goods. Which type of wholesaler best fits your needs?
A.
B.
rack jobber
C.
drop shipper
D.
mail-order wholesaler
E.
agents and brokers
B
Page Ref: 394
Skill: Application
Objective: 11-4
135.
SuperValu, traditionally classified as a food wholesaler, has recently started or acquired several retail food chains of its
own, including Albertsons, Jewel-Osco, and Cub Foods. Which of the following trends is this an example of?
A.
movement toward self-service retailing
B.
the growing domination of superstores
C.
the decline of the voluntary chain
D.
retail convergence
E.
the blurring of distinctions between retailers and wholesalers
E
Page Ref: 397-398
Skill: Application
Objective: 11-4
136.
What is the difference between a limited-service and a full-service retailer?
Limited-service retailers carry more shopping goods about which customers need information; their increased operating
costs result in higher prices. Full-service retailers provide salespeople who assist customers in every phase of the
shopping process; these retailers usually carry more specialty goods for which customers like to be "waited on."
Page Ref: 373
Skill: Application
Objective: 11-1
137.
What types of products do specialty stores carry? Give an example of a specialty store.
Specialty stores carry narrow product lines with deep assortments within those lines. Examples could include sporting
goods stores, crafts stores, sewing stores, etc.

Page Ref: 374
Skill: Application
Objective: 11-1
138.
How have department stores responded to increased competition by specialty stores?
Many department stores have added promotional pricing to meet the threat; in addition, they have stepped up the use of
store brands and single-brand "designer shops" to compete with specialty stores. Department stores are also trying mailorder, telephone, and Web selling.
Page Ref: 375
Skill: Application
Objective: 11-1
139.
What types of products may be sold through category killers?
Category killers are prevalent in a wide range of categories, including books, baby gear, toys, electronics, home
improvement products, linens and towels, party goods, sporting goods, and pet supplies.
Page Ref: 376
Skill: Application
Objective: 11-1
140.
How can discount stores sell merchandise at lower prices?
Discount stores sell merchandise at lower prices by accepting lower margins and selling higher volumes.
Page Ref: 376
Skill: Application
Objective: 11-1
141.
What might be a major concern for a high-end designer whose merchandise is sold through factory outlets?
Though factory outlets have moved upscale, some high-end designers might be concerned that their brand would be
diminished through association with irregular or discontinued products.
Page Ref: 378
Skill: Application
Objective: 11-1
142.
What are three advantages a chain has over an independent retailer?
A chain can buy in larger quantities at lower prices and can gain promotional economies; chains can also afford to hire
specialists in areas such as pricing, promotion, merchandising, inventory control, and sales forecasting.
Page Ref: 379
Skill: Application
Objective: 11-1
143.
How does a retailer cooperative function?
A retailer cooperative is a group of retailers that join to set up a jointly owned, central wholesale operation, and conduct
joint merchandising and promotion efforts. Through a retailer cooperative, independents can match the buying and
promotion economies of corporate chains.
Page Ref: 380
Skill: Application
Objective: 11-1
144.
What elements comprise a store's atmosphere?
A store's atmosphere includes the sights, sounds, and smells that customers experience within the store.
Page Ref: 384
Skill: Application
Objective: 11-2
145.
How do the practices of "high-low" pricing and everyday low pricing differ?
With "high-low" pricing, a retailer charges higher prices on an everyday basis but also has frequent sales and other price
promotions; with everyday low pricing, a retailer for the most part avoids sales and instead delivers constant, everyday
low prices.
Page Ref: 385
Skill: Application
Objective: 11-2
146.
How have shopping centers changed in the past few decades?

Central business districts located in downtown areas were the wave in the 1950s; such areas included department stores,
specialty stores, banks, and movie theaters. With the move of people to the suburbs came branches of some of the
downtown merchants in suburban shopping centers. In recent years, many cities have joined with merchants to try to
revive downtown shopping areas by building malls and providing underground parking.
Page Ref: 386
Skill: Application
Objective: 11-2
147.
What attracts shoppers to a power center?
Power centers are unenclosed shopping centers that consist of a long strip of retail stores, each store with its own entrance
with parking directly in front for shoppers who wish to visit only one store. A power center offers convenience and variety
for shoppers.
Page Ref: 386
Skill: Application
Objective: 11-2
148.
Briefly explain the wheel-of-retailing concept.
According to this concept, many new types of retailing forms begin as low-margin, low-price, low-status operations. Over
time, the retailers' success leads them to upgrade their facilities and offer more services; consequently, their costs increase,
forcing them to increase their prices. Eventually, these retailers become prey to the new retailers entering the marketplace.
Page Ref: 387
Skill: Application
Objective: 11-3
149.
Explain why drastic price-discounting in response to a faltering economy might be an unwise strategy.
Though price-discounting may keep a company's sales up in the short-term, the reduced price may well damage the
product's image and position in the long-term. Drastic price-discounting is a sign of panic that will encourage one-time
buyers but not create loyal customers.
Page Ref: 388
Skill: Application
Objective: 11-3
150.
What constitutes retail convergence?

Retail convergence is the coming together of shoppers, goods, and prices. Customers of all income levels are shopping at
the same stores, often for the same goods. Distinctions such as discount store, specialty store, and department store are
losing significance.
Page Ref: 390
Skill: Application
Objective: 11-3
151.
Why have some small, independent retailers thrived in the face of competition from discount stores and off-price
retailers?
Many small, independent retailers have been able to position themselves as having a personal touch or specialty
merchandise that appeals to a devoted customer base willing to pay somewhat higher prices.
Page Ref: 390
Skill: Application
Objective: 11-3
152.
How has the rise of megaretailers shifted the balance of power between retailers and producers?
Because a relative handful of retailers such as Wal-Mart and Costco control access to such large numbers of consumers,
they have developed an advantage in dealing with producers; megaretailers can make greater demands of producers, who
cannot afford to lose access to the markets the megaretailers serve.
Page Ref: 390
Skill: Application
Objective: 11-3
153.
How do merchant wholesalers and agents/brokers differ?
Merchant wholesalers "take title to" (or own) what they sell; agents/brokers merely serve as liaisons, bringing buyers and
sellers together.
Page Ref: 393
Skill: Application
Objective: 11-4
154.
What marketing mix elements are important to wholesalers?
All marketing mix elements are important to wholesalers. The characteristics of the products being distributed often help
to define the functions of the wholesaler. In addition, price is important because markups must be considered as products
are distributed through intermediaries. Promotion is critical, though many wholesalers are not promotion-minded. Place
is especially important because locations, facilities, and Web locations must be selected carefully.
Page Ref: 395-396
Skill: Application
Objective: 11-4
155.
How can wholesalers improve their use of promotions?
Many wholesalers do not view promotion as a team effort to sell, build, and service major accounts; to address this issue,
wholesalers should adopt some of the promotion techniques used by retailers, such as developing an overall promotion
strategy and making greater use of supplier promotion materials and programs.
Page Ref: 396
Skill: Application
Objective: 11-4
Scenario
In the 1970s, Shipshewana was only a small town with a hardware store, a grain mill, a shoe store, a small
restaurant, and a grocery store. Over the next two decades, the small town transformed into an international tourist
attraction, attracting thousands of tourists who are intrigued with the lifestyle of Shipshewana's largest populationthe
Amish.
Ben and Mary Miller, having grown up within the Amish faith, decided to capitalize on their town's popularity
and their woodworking skills. Their shop, Indiana Wood, began with a small display of handmade hickory rocking chairs,
Ben Miller's specialty. But within a few months, the display at Indiana Wood included picnic tables, flower boxes, and
small handmade novelty items. No other shop offers the same.
Mary Miller decorated the shop's display room with authentic Amish dcor and eventually hired three Amish
friends to sew and embroider napkins and other textiles per customer request. In addition, two women from the Amish
community sought permission from the Millers to display home-baked pastries and jellies on Tuesdays and Wednesdays,
the town's busiest tourist days, when Shipshewana attracts swarms of visitors to its flea market on the south edge of town.
"Shipshewana is full of specialty shops," Mary Miller stated. "People don't come here to buy things made in China
or Taiwan. They want real, Amish-made goods."
156.
Why might Indiana Wood be classified as a full-service retailer?
Indiana Wood offers specialty goods made to fit customers' requests. Customers are waited on as their customized
products are produced on the spot, right in front of them.
Page Ref: 373
Skill: Application
Objective: 11-1
157.
Why do specialty stores flourish in Shipshewana?
Customers are attracted to the lifestyle of the Amish people; customers like to take a part of the unique Amish culture and
tradition home with them as they buy any number of specialty goods.
Page Ref: 374
Skill: Application
Objective: 11-1
158.
Could Indiana Wood be part of a retailer cooperative? Explain.
It is possible. Any group of Amish specialty stores could band together to form a larger jointly owned enterprise. This,
however, could take away from each shop's uniqueness that is contributing to Shipshewana's business success.
Page Ref: 380
Skill: Application
Objective: 11-1
159.
How does Indiana Wood position itself?
This shop attracts Shipshewana's tourists. The traditional products offered are Amish-made and the shop's dcor is strictly
Amish. No other shop currently offers the same products; therefore, Indiana Wood complements the other shops'
offerings.
Page Ref: 381
Skill: Application
Objective: 11-2
160.
Describe Indiana Wood's atmosphere.
The Amish dcor, offerings, and even shop workers give visitors an authentic impression of the pride and skill built into
the shop's products.
Page Ref: 384
Skill: Application
Objective: 11-2
161.
How might Indiana Wood promote its products?
Promoting locally may be ineffective because Indiana Wood aims to attract tourists. Promoting in tourist pamphlets, travel
Web sites, and promotional options available at the local Chamber of Commerce may be the most profitable routes.
Page Ref: 385
Skill: Application
Objective: 11-2
162.
How does location play a critical part in Indiana Wood's success?
Location in this scenario is everything! The large Amish population attracts visitors; the shops capitalize on that.
Page Ref: 386
Skill: Application
Objective: 11-2
163.
Would Indiana Wood benefit from retail convergence? Explain.
No. Each specialty shop in this town does what it does best. The town would lose its special aura if all shops competed,
offering the same products.
Page Ref: 391
Skill: Application
Objective: 11-3
164.
If Indiana Wood expanded beyond Shipshewana, what are three critical functions that may need to be performed by a
wholesaler?
Such functions may include selling and promoting, warehousing, transportation, and marketing information.
Page Ref: 393
Skill: Application
Objective: 11-4
165.
How might Indiana Wood benefit from a manufacturer's sales branch/office?
Such an option would allow Ben and Mary Miller to control how their products, and the Amish traditions, are being
explained to those unfamiliar with them. Such an office would have direct contact with Ben and Mary.
Page Ref: 393
Skill: Application
Objective: 11-4

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Chapter 11

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Chapter 11 : Retailing and Wholesaling

Page Ref: 378-379

Service differentiation among retailers has ________.

Page Ref: 386

Page Ref: 376

Some retailers benefit from a down economy.

Page Ref: 391

goods stores, crafts stores, sewing stores, etc.

How have shopping centers changed in the past few decades?

What constitutes retail convergence?

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